Horizon Minerals Boosts Cash Reserves, Clears Convertible Loan Burden

Quarterly Cash Flow Highlights

Horizon Minerals Ltd has released its quarterly cash flow report for the period ending 31 December 2025, revealing a net increase in cash and cash equivalents of A$3.138 million. This brings the company’s total cash holdings to A$37.495 million, up from A$34.357 million at the start of the quarter. Year to date, Horizon has boosted its liquidity position by nearly A$21.8 million, reflecting a strong cash management strategy amid ongoing exploration activities.

Operating and Investing Activities

The company’s operating activities generated a modest positive cash flow of A$27,000 for the quarter, a notable improvement given the typical cash burn associated with exploration and evaluation. Investing activities contributed a net inflow of A$3.171 million, partly due to asset disposals and other non-operational receipts. This inflow helped offset the significant payments made towards exploration and evaluation, which totalled over A$5 million year to date.

Capital Structure and Financing

One of the most significant developments during the quarter was the full extinguishment of the Nebari Convertible Loan Facility. This move simplifies Horizon’s capital structure by eliminating convertible debt, potentially reducing future dilution risks for shareholders. Financing activities saw a small net outflow of A$60,000, with no new borrowings drawn and minor repayments made, indicating a conservative approach to external funding.

Liquidity and Funding Outlook

With cash and equivalents standing at A$37.5 million and no unused financing facilities, Horizon estimates it has sufficient funding to cover approximately 7 quarters of current expenditure. This runway provides the company with a comfortable buffer to continue its exploration and evaluation programs without immediate need for additional capital raising. Payments to related parties, including directors’ fees and superannuation, amounted to A$184,000, consistent with prior periods and reflecting standard corporate governance disclosures.

Looking Ahead

While the report does not provide forward guidance or detailed operational updates, the improved cash position and elimination of convertible debt suggest Horizon Minerals is positioning itself for a more stable financial footing. Investors will be watching closely for how the company leverages this strengthened balance sheet to advance its exploration projects and potentially unlock shareholder value.